The Haryana government has reduced the minimum land requirement to build townships from 100 acres to 25 in its new integrated licencing policy (NILP), which it unveiled on October 23.
The state expects the NILP to help energise the real estate market that has been going through a prolonged slump, particularly in NCR. The policy is applicable to high and hyper potential areas in NCR and the state capital region (SCR).
The lowering of the minimum land quantum for large housing projects to 25 acres also means acquisitions of this scale won't attract tough clauses of the Land Acquisition, Rehabilitation and Resettlement Act, which is applicable for acquisitions above 50 acres.
Only 12 housing project licences have been issued since the Manohar Lal Khattar-led BJP government took the reins of the Haryana government in October 2014.But the investment climate alone is not to be blamed for this. The state stopped issuing licences to builders in September 2014 when the model code of conduct for the assembly polls came into effect. The new government only resumed giving out housing licences in June.
The NILP will cover Gurgaon and Manesar, Faridabad, Ballabgarh, Sohna, So nipat, Kundli and Panchkula. The government expects it to generate revenue of Rs 1.25 lakh crore. While unveiling the policy in Chandigarh, chief minister Khattar said he was hopeful that 2 lakh dwelling units under the affordable housing scheme would be built by 2020.
The lowering of the minimum land quantum for large housing projects to 25 acres also means acquisitions of this scale won't attract tough clauses of the Land Acquisition, Rehabilitation and Resettlement Act, which is applicable for acquisitions above 50 acres.
Only 12 housing project licences have been issued since the Manohar Lal Khattar-led BJP government took the reins of the Haryana government in October 2014.But the investment climate alone is not to be blamed for this. The state stopped issuing licences to builders in September 2014 when the model code of conduct for the assembly polls came into effect. The new government only resumed giving out housing licences in June.
The NILP will cover Gurgaon and Manesar, Faridabad, Ballabgarh, Sohna, So nipat, Kundli and Panchkula. The government expects it to generate revenue of Rs 1.25 lakh crore. While unveiling the policy in Chandigarh, chief minister Khattar said he was hopeful that 2 lakh dwelling units under the affordable housing scheme would be built by 2020.
Besides bringing down the minimum area requirement for obtaining the licence, the NILP also plugs an illegal practice of developers signing memoranda of understanding (MoU) to fulfil the 100-acre cap. There had been instances in the past when builders have inked MoUs with landowners and apply for a licence.
Now builders, who want to use farmer's land for their projects, will have to sign a transferable development rights (TDR) agreement."This will ensure that farmers or landowners will get the market price from the builder for their land. The government will be a facilitator as the custodian of farmer's interests. The TDR certificate will be valid for two years from the date of issuance," said Khattar.
He added, "We reiterate we have zero tolerance for corrupt practices. Just because of the wrong policy of the previous government, 10,000 acres of land had been lying unutilized in Gurgaon alone. You can imagine the condition of other places."
He added, "We reiterate we have zero tolerance for corrupt practices. Just because of the wrong policy of the previous government, 10,000 acres of land had been lying unutilized in Gurgaon alone. You can imagine the condition of other places."
SOURCE: magicbricks.com
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